Nine Entertainment announced on Thursday that Sneesby will step down as chief executive officer and board director on September 30.

His resignation comes just weeks after Nine broadcast the Paris Olympics, with the company’s print journalists going on strike during the event and expressing anger over Sneesby’s flying to Paris to carry the Olympic torch amid job cut announcements.

Nine Entertainment has also been embroiled in damaging internal claims of a toxic culture and “predatory behaviour”, with former news and current affairs director Darren Wick leaving in March.

In June, Nine chairman and former federal treasurer Peter Costello stepped down after denying that he assaulted a News Corp journalist who was questioning him at Canberra Airport.

In August, Nine Entertainment reported that profits fell by 31 per cent over the last financial year.

Sneesby announced his resignation after three years in an internal email.

“This year has been one of the most challenging in my career – one where our resilience has been tested,” he said.

“Despite the intensity of the scrutiny, my focus has not wavered from achieving the best outcomes for our people and for Nine.”

Sneesby’s future as CEO has been openly questioned for months by rival media.

“Recently when our Board opened a discussion with me about my tenure, we agreed that the timing was right to commence a leadership transition,” he wrote.

“With commitments around Nine’s full-year financial results completed and Nine having successfully delivered the  world-class coverage of the Paris Olympics and Paralympics, the Board and I agreed now was the best time for a transition to commence.

“I take great pride in the achievements of the Company during my time as CEO and thank the Board, the leadership team and everyone at Nine for their support during my tenure.

“Together, we have navigated significant change in the media landscape in Australia. I firmly believe Nine is Australia’s best media business, with premium assets and the sector’s leading media professionals.”

Nine’s chief finance and strategy officer Matt Stanton has been appointed as acting CEO effective from October 1 while a search begins for a new CEO.

Nine chair Catherine West said the Board thanked Sneesby for his contribution.

“As CEO his achievements include guiding the company out of the challenging COVID-19 pandemic, securing the rights to the Olympic Games through to 2032 and progressing the strategic and cultural transformation of Nine,” she said.